• Successful integration of Bupa businesses completed three months ahead of schedule;
• Focused  on  cost  saving  opportunities  and  on  track  to  achieve  $6.5  million  in  annual  cost savings (as outlined in the 26 March 2010 prospectus);
• Successful recruitment of experienced and skilled key executives and Board members;
• Upgraded  Fintechnix/point‐of‐sale  system  to  include  automated  underwriting  and  online fulfilment;
• Launched pilot program to sell direct life insurance products using AEGON Direct Marketing Services (ADMS);
• Rolled out referral management system to employed planners and Bupa member centres in NSW, Queensland and Tasmania

Of course my own excitement is around the fourth point - the update of the Fintechnix platform to include automated underwriting and online fulfillment.  It is amazing to think that only a few short years ago it was practically impossible to market and fully sell risk products at a desk sitting opposite a client or online 24/7, 365 days a year.

Hmmm ... you might be thinking to yourself, “Wait a minute John, there are lots of places online that sell and issue life insurance on the spot. That’s nothing special!”

True, but the difference with the Clearview, is that through Fintechnix, fully under-written “long form” life insurance can be sold and supported with just a few clicks. Clearview can now market, distribute and sell class-leading risk products to the Australian community without dozens of paper forms having to be filled in, submitted, checked and double checked before the client knows what’s happening.

I’m old enough to remember back in the late 80’s the promise that information technology would bring about the “paperless office.” I don’t know about you but I use all the latest technology devices and I’m still drowning in paper! At least, the clients of Clearview are seeing the paper promise delivered.

See you next post.

John Groves